Del. Poison Pill Ruling May Spark New Ways To Defend

Law360, New York (March 12, 2010, 7:14 PM EST) -- A landmark decision from the Delaware Chancery Court validating an increasingly popular version of a poison pill could potentially help boards of directors make a case for new takeover defense tactics down the road, attorneys say.

The recent ruling in Selectica Inc. v. Versata Enterprises Inc. upheld the use of a poison pill designed to protect potentially valuable net operating losses. But given the unique characteristics of an NOL pill, and the broadly worded decision handed down by the Delaware Chancery Court, mergers and acquisitions specialists...
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